The pervasive unifying thread that runs through everything that Reliance does is the spirit of 'We Care'.
For Reliance, 'We Care' is not just about caring for the financial and economic well-being of the Company and its stakeholders. It is also about taking cognisance of the non-financial and social parameters, the convergence of which is critical to optimise trust and goodwill with its stakeholders and the larger ecosystem. The Company's unique strength lies in its ability to balance financial and non-financial goals. It gives Reliance the edge to tap opportunities across the spectrum to strengthen its long-term sustainable value creation potential while meeting the needs of its diverse stakeholders.
Given the complexity of Reliance's operations and its growth aspirations, it must embrace the latest technology advances, invest in robust research capabilities, nurture communities and stay abreast of ever-evolving customer preferences. The Company must also create a mutually rewarding experience for employees and reduce the environmental impact of every action it undertakes. Reliance understands the importance of monitoring and mitigating risks and identifying opportunities that can directly or indirectly impact its present and future existence. Its approach has always been holistic so that the interdependencies between the different aspects of business and the cause-effect relationship are synchronous. Its determination to walk this balanced path and grow while keeping 'Care' at the core are reflected in the Company's resilient and sustained financial performance.
The disclosures made in this part of the report are shaped by industry best practices and universally accepted standards and frameworks such as Global Reporting Initiative(GRI), International Integrated Reporting Council (IIRC), Task Force on Climate-Related Financial Disclosures (TCFD), United Nations Sustainable Development Goals (SDGs) and World Economic Forum's International Business Council (WEF-IBC) metrics.
In this report, Reliance has enumerated its value creation story by aligning to the six capitals of the framework laid down by the IIRC covering Natural Capital, Human Capital, Manufactured Capital, Intellectual Capital, Financial Capital and Social and Relationship Capital.
This section focuses on Reliance's
value creation from the lens of
Non-financial Capitals of IIRC